AF:
>For, let variable capital be V. The profit equation can be
>written:
>
>pX = (pA+V)(1+r)
>
>where X = output
> A = inputs
> p = price
> r = rate of profit.
>
>This seems to be to give a magnitude of r that is independent
>of the length of the working day, unless V is a function of
>the length of the working day, and I see no reason to suppose
>that it is.
>
WPC:
A longer working day, wages remaining constant would imply rises
in output (X) and in means of production (A) whilst V remained constant.
This increase in output would imply a higher r.
The actual transition to an increased working day is more complex to
model as it presupposes the setting asside of additional output at an
earlier period to provide for the larger A.
Paul Cockshott
wpc@cs.strath.ac.uk
http://www.cs.strath.ac.uk/CS/Biog/wpc/index.html